Raleigh-Durham Industrial Q3 2026

The industrial market continued to experience rising vacancy in Q3 2026 as new supply outpaced occupancy gains. Vacancy rose 40 basis points (bps) to 9.3%, matching availability, as deliveries of 1.52 million sq. ft. exceeded net absorption of 891,000 sq. ft. Much of the available space remains concentrated in recently delivered Class A buildings, reflecting the 5.19 million sq. ft. of space delivered during the past 12 months.
Tenant demand remained steady, with year-to-date leasing reaching 5.03 million sq. ft., significantly outpacing the 2.92 million sq. ft. recorded through the third quarter of 2025. This was supported by continued preference for newer, higher-quality facilities. Positive absorption was driven largely by recently completed Class A properties, while Class B space saw occupancy losses as tenants upgraded into modern buildings.